Japan trade figures released earlier - MoF highlights exports to China

The data is here:

• Japan trade balance for January -323.9bn yen (expected Y -625bn)

In the release was the figure that exports to China in January were +37.5% y/y.

Japan's Ministry of Finance notes that this is the highest growth since April of 2010.

Its indicative of the recovery in China and supportive of the Japanese economy. I noted earlier that the data ahead from Japan may suffer due to the renewed state of emergency in major centres in the country. Solid export growth will cushion any blow to some extent.